Questions and answers on the Anti-Money Laundering Act and beneficial owners
The key questions on the 2026 revision of the Anti-Money Laundering Act (AMLA) and on establishing beneficial owners. Hoop is a private software provider, not an authority and not a self-regulatory organisation. The answers describe the legal rules in general terms and do not replace a case-by-case assessment. Status: November 2026.
What is new in the Anti-Money Laundering Act?
What changed in the Anti-Money Laundering Act on 1 October 2026?
Advisers are now also subject to the AMLA if, on a professional basis, they assist with financial transactions in connection with certain legal acts. These include the purchase and sale of real estate, the formation of non-operating legal entities in Switzerland or of legal entities abroad, and the management and administration of non-operating legal entities. Exceptions apply, for example under family and inheritance law. Anyone who provides an address or premises as a domicile or registered office for more than six months is also covered. The Transparency Act (TJPG) entered into force on the same day.
Legal basis: Art. 2 paras. 3bis, 3ter and 4ter AMLA
What is a non-operating legal entity?
A legal person, company, foundation, trust or similar arrangement that does not serve to operate or support the operational activities of a business, in particular a domiciliary company. The formation of operating companies with registered office in Switzerland is not listed among the advisory activities. Whether an activity is covered is assessed case by case by the competent self-regulatory organisation.
Legal basis: Art. 2a para. 6 and Art. 2 para. 3bis let. b AMLA
When is advisory activity carried out on a professional basis?
When it is an independent economic activity aimed at earning a lasting income. It is professional in any case if it generates gross revenue of more than CHF 50,000 per calendar year, involves more than 20 clients or more than 20 legal acts per year, concerns assets of more than CHF 5 million or transactions of more than CHF 2 million per year. Whether it is a main or secondary activity makes no difference. Activities for related persons only count above CHF 50,000 in gross revenue.
Legal basis: Art. 12f AMLO
By when must advisers join a self-regulatory organisation?
Anyone who was already working as an adviser on 1 October 2026 must apply to join an SRO by 1 December 2026. Until the decision, the activity is only permitted within existing business relationships. Anyone who becomes a professional adviser later must comply with the duties immediately and has two months to apply. Financial intermediaries notify their supervisory body of the advisory activity.
Legal basis: Art. 14 AMLA; Art. 12g AMLO and transitional provision to the amendment of 26 September 2025
What duties do advisers have?
They identify the client, establish the beneficial owner and document both. They also clarify the subject and purpose of the requested business and, where risks are high, its background. Organisational measures and the duty to report suspected money laundering also apply. The SRO sets out the detailed scope.
Legal basis: Art. 8b, 8c, 8d and 9 AMLA; Art. 12g AMLO
Establishing beneficial owners
Who is the beneficial owner of an operating company?
The natural persons who ultimately control it: by holding at least 25 per cent of the capital or votes, directly or indirectly, alone or together with third parties, or in another way. If they cannot be established, the identity of the highest-ranking member of the executive body must be established. The definition largely matches the one in the Transparency Act. → Practical questions on the transparency register
Legal basis: Art. 2a para. 3 AMLA; Art. 4 TJPG
What are Form A and Form K?
Banks and other financial intermediaries use these forms to obtain the written declaration on beneficial ownership. Form K records who controls an unlisted operating company. Form A records to whom the assets contributed beneficially belong, for example for a domiciliary company. The exact form is set by the bank, the financial intermediary or the SRO. Knowingly filling in false information is punishable as forgery of a document.
Legal basis: Art. 4 para. 2 AMLA; Art. 251 SCC
When must the contracting party provide such a declaration?
If it is not itself the beneficial owner or there is doubt about this, if it is a domiciliary company or an operating legal entity, and for cash transactions of a substantial amount. For listed companies and their majority-controlled subsidiaries, this can be waived.
Legal basis: Art. 4 paras. 1 and 2 AMLA
AMLA and the transparency register
Does the transparency register replace your own checks?
No. The entries are declaratory. Financial intermediaries and advisers continue to check beneficial owners under the AMLA. If this check reveals nothing to the contrary, they may rely on the entries in the register.
Legal basis: Art. 23 TJPG
Who may access the transparency register?
Besides authorities, financial intermediaries and advisers can access the data online insofar as they need it for their due diligence duties, and only for that purpose. The register is not public. Every company can request a confirmation and an extract of its own entry.
Legal basis: Art. 26–28 TJPG
What is a discrepancy report and when does it apply?
If a financial intermediary finds that the register data differ from its own and raise doubts about their accuracy, it informs the client and sets a deadline for correction. If the discrepancy persists, it reports it to the register within 30 days. The duty applies from 1 April 2027 and concerns financial intermediaries, not advisers.
Legal basis: Art. 30 and 54 TJPG
Can I use the data from Hoop for checks under the AMLA?
Hoop keeps the share register and the register of beneficial owners of your company or your clients, with versions and supporting documents. You can give this data to your bank, fiduciary or law firm as a basis for their own checks. The check under the AMLA remains their responsibility. → Register of beneficial owners
Legal basis: Art. 4 and 8b AMLA
